Israeli Crypto Firms Struggle to Deal With War, in Between the Sirens

Cryptocurrency professionals in Israel are resiliently pressing on with business amidst the tragedy and disruption
Israeli Crypto Firms Struggle to Deal With War, in Between the Sirens
Israeli Crypto Firms Struggle to Deal With War, in Between the Sirens

Professionals in the cryptocurrency industry in Israel are resolutely carrying on with business despite the sorrow and disruption caused by the fighting with the Palestinian militant group Hamas. But many are also frantically trying to alleviate the situation and comprehend the gravity of the recent occurrences.

During a rare interview opportunity, CryptoJungle CEO Ben Samocha was traveling to the funeral of a student who had been slain in a Hamas attack. While struggling with the effects of the war and being frequently interrupted by rocket warning sirens, he started a crypto fundraising effort for victims.

Samocha expressed optimism and hope that the nation, industry, and business would survive the upheaval.

We will need knowledge and content, and we will be available to supply it, he said, adding that cryptocurrency and blockchain were here to stay.

In addition to minor personal problems like empty grocery store shelves and concern from air raid alerts, other Israeli crypto CEOs reported little commercial impact. Most businesses already run decentralized operations.

We’re very aware that even in this unimaginable period, life needs to continue, stated Guy Itzhaki, CEO of blockchain startup Fhenix.

However, the horrific human cost in terms of deaths, wounds, and bombardment has resulted in existential concerns and emotional fatigue. The Hamas missile attack that killed 10 Israelis waiting for a bus has crypto experts still in shock.

Israeli crypto leaders place a high priority on humanitarian initiatives like fund-raising, item donations, and blood drives for victims. Others help by offering cybersecurity protection against internet threats and information services.

Nearly 100 Ethereum donations have been collected in a MondoDAO multisig wallet, which will be transparently used by affiliated groups for medical and humanitarian needs.

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